Michael Kors creates new role in response to growth in Asia

Michael Kors Jet Set event in China U.S. apparel brand Michael Kors tapped Tiffany & Co.’s former senior vice president of Asia, Stephane Lafay, to act as president of the region. The newly created president of Asia role reflects the brand’s rapid expansion in the region and its desire to stay ahead of competitors. The brand currently has more than 100 stores in Asia. Momentum Mr. Lafay has an extensive background in Asia. According to a press release, the executive has worked in the region for 25 years and has spent 20 years there building brands. Prior to his five-year stint at Tiffany, Mr. Lafay was the president of Japan for Bulgari from 2004 to 2009. Mr. Lafay will report to the Michael Kors’ chairman and CEO, John D. Idol. Although Michael Kors is still largely propelled by its North American and European operations, it has been pushing to expand in new markets. The ...